Don't get too itchy to collect Social Security

It pays to wait, if you can

8:27 PM,
May 6, 2014

John Waggoner

Written by

John Waggoner
| USA Today

Americans make lots of mistakes. That's not always a bad thing, because we usually fix them. The 3.5 version of any software usually works, as opposed to the 1.0 version. The second year of a new-model car usually doesn't catch fire when you open the glove compartment.

But some mistakes are difficult to overcome, and one of hardest to overcome is when you start taking Social Security payments. Clearly, the best strategy is not the same for everyone. But for those who have a choice, the best strategy is to delay taking payments until you're 70.